Stuart Company* Balance Sheet AS of January 24, 2018 ( amounts in thousands ) Cash 8, 400| Accounts Payable 2, 800 Accounts Receivable* 4, 700| Debt…

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Accounting: Journal 5

Record the transactions in a journal, transfer the journal entries to T-accounts, compute closing amounts for the T-accounts, and construct a balance sheet to answer the question.

Jan 25. Borrow $52,000 from a bank

Jan 26. Purchase equipment for $48,000 in cash

Jan 27. Issue $85,000 in stock


What is the final amount in Total Assets?

Stuart Company*Balance SheetAS of January 24, 2018( amounts in thousands )Cash8, 400| Accounts Payable2, 800Accounts Receivable*4, 700| Debt3, 400Inventory!4, 200| Other Liabilities900Property Plant & Equipment*17, 200| Total Liabilities7, 100Other Assets2, 800| Paid – In Capital6, 700Retained Earnings23, 500Total Equity30, 200Total Assets37, 300| Total Liabilities & Equity37, 300Record the transactions in a journal , transfer the journal entries to T-accounts , compute closing amounts for the T-accounts , and construct a balance sheet to answer the question .Jan 25 . Borrow $52, 000 from a bankJan 26 . Purchase equipment for $ 48 , 000 in cashJan 27 . Issue $85, 000 in stockWhat is the final amount in Total Assets ?Please specify your answer in the same units as the balance sheet .

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